| Cluttons, the global real estate company with a dedicated Middle Eastern presence, showcased the complete range of its Middle East and London properties at the recent Cityscape Global expo in Dubai. |
The primary focus of the Cluttons stand was the Shams 1 tower, a unique investment opportunity of over 350 prime, vacant beachfront apartments in the Jumeirah Beach Residences.
Shams 1 stood empty for some time after being used primarily as hotel apartments, but now provides a truly unique and sensational opportunity to own one to four-bedroom vacant apartments and lofts with prices below market rates, said the property expert in its statement.
The prices start from Dh1.3 million for a one-bedroom turnkey investment, which is a fully furnished apartment with sea or marina views and access to top-flight facilities, including a luxury swimming pool and spacious terraces, it added.
According to Cluttons, Dubai Marina, the location of Shams 1 and the new heart of the emirate, saw capital values at the end of the second quarter surge by 34.2 per cent over last year.
The consumer interest has been bolstered by the enhanced infrastructure, with a local mall, metro stops, and a tram under development, the expert pointed out.
Investor confidence is also supported by the fact that the UAE is constantly striving to implement regulations to prevent any sudden price increases or speculation that was seen in 2008.
Only last month the Dubai land department created a Rental Dispute Settlement Centre and doubled transfer fees; and in addition the central bank is expected to announce limits on banks' lending for residential mortgages by the end of this year.
Cluttons said its Dubai residential agency department now enjoys a restructured administration operation and dedicated concentration of client service, often coupled by valuations, property management or strategic consultancy.
This has attracted large-scale projects such as Shams 1 whereby an on-site, well-trained team of highly qualified real estate professionals satisfy all client requirements.
Steven Morgan, the Middle East head, said: "Cluttons is applying its years of regional expertise to projects where developers were looking to engage us for a 360 degree service, supporting them from valuation to brokerage.
"As we can see from this year’s Cityscape, the Middle Eastern real estate market is growing increasingly complex, so clients can take comfort in coming to us for a complete service at a very high standard," he added.